Harvey Norman sales increase by 18.1%

By James Wells

SYDNEY: Harvey Norman issued a statement today which claims the company has increased sales for the three months ending 30 September by 18.1 per cent compared to the same period a year earlier.

Harvey Norman Holdings chief financial officer, Chris Mentis, said that although sales for the period July to September increased overall by 18.1 per cent, like-for-like sales over the same period for existing stores increased by 8.2 per cent.

“The directors of Harvey Norman Holdings Limited announce that sales from the franchised Harvey Norman stores, commercial divisions and other sales outlets in Australia, New Zealand, Slovenia and Ireland (excluding Singapore and Rebel) totaled $1.25 billion for the three months ended 30 September 2006,” Mentis said in the statement to the Australian Stock Exchange.

“Sales for the three months ended 30 September 2006, have been adversely affected by a 8.7 per cent deterioration in the New Zealand dollar. Excluding the effects of the deteriorating New Zealand dollar, sales for the three months ended 30 September 2006 would have increased 19.1 per cent compared to the same period last year, and like for like sales would have increased by 9.1 per cent compared to the same period last year.”

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